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List the characteristics of a pure monopoly. List and explain the barriers to entry that shield pure monopolies from the competition. Explain how the demand is seen by a pure monopolist. Discuss the economic effects of monopoly. Describe why a monopolist might prefer to charge different prices in different markets to different customers. List the characteristics of monopolistic competition. Explain why monopolistic competitors earn only a normal profit in the long run. Discuss product differentiation — see Apple, Google, Facebook, Disney, how do they differentiate their product and create a profitable brand name. Look at YahooFinance for their stock history and fine performance. Would you have liked to own some stock in those? Look those up and discuss. Describe the characteristics of oligopoly.